Orbit Energy appoints Kumari Capital as issue manager for IPO
These shares will be issued to the local residents of the project-affected area and the general public.
KATHMANDU: Orbit Energy Limited has appointed Kumari Capital Limited as the issue manager for the public offering of 5,000,000 ordinary shares with a face value of Rs 100 per share.
These shares will be issued to the local residents of the project-affected area and the general public.
The agreement was signed by Sudip Khadka, General Manager of Orbit Energy Limited, and Pushpa Sharma, CEO of Kumari Capital.
Orbit Energy is currently constructing the Sabha Khola B (21.5 MW) and Sabha Khola C (6.3 MW) hydropower projects in Sabhapokhari Rural Municipality, Sankhuwasabha district, utilizing the water resources of the Sabha River.
The company has reported that around 55% of the construction work has been completed.
The project will be equipped with advanced electromechanical equipment from Flowell Energy Private Limited (India) and Troer AG (Italy).
The company aims to bring the project into operation within a year and has plans to invest in additional hydropower projects in the future.
